Back in 2021, I researched and invested in a project named Sovryn. Since then we have suffered a brutal bear market.
It was a long, slow sloping downward bleed out and because of this, every coin is down. Keep in mind that the long sloping formation is a bullish descending wedge. Also keep in mind that because of this, it is a great time to buy ALT coins that are on the price floor.
But over this time, Sovryn had been steady working. Check out the YouTube: https://www.youtube.com/@Sovryn/videos
They have been steadily keeping the public informed on what the team is doing, what plans are and listening to what the people have to say in open discussion. Yago and the team have been doing a great job at being transparent. This is very important. Not many projects do this. This is one of many reasons why I trust Sovryn and its team so much.
The Sovryn team has also rebuilt the branding and graphic style, which IMHO looks good. The new look incorporates AI art consisting of futurism themes with Bitcoin and Sovryn branding and themes. The site’s look is clean and organized but also futuristic. Very well done from a design stand point.
Sovryn has added to its list of financial products and services, you can now use the following services:
- Spot Trading
- Margin Trading
- Fixed Intereast Loans
- 0 Interest lines of credit
- Stability Pools
- Conversion Swaps
- And of course, the Bitocracy
Sovryn is offering all the tools you need to be your own bank, running on Bitcoin and at the same time, allowing users to easily trade/convert to EVM compatible assets as well as SOV exists in a sort of sweet spot where you can interact with Bitcoin but also EVM compatible chains which makes it very accessible.
The fundamentals have not changed
The market has been irrational. Investors have been irrational. But overall, the fundamentals in the market have not changed. Not by a long shot. In fact, they have only gotten stronger. Since 2021 we have seen many centralized exchanges be compromised and/or fall to corruption or the influence of the state.
- Axie Infinity
- Three Arrows Capital
And recently, Binance who has been on the radar of western governments for years now, had recently had its CEO CZ step down. Let us not forget that the governments of the west will fight tooth and nail to the death to get into Binance’s records. They will not stop until they get access.
The last bull run was an irrational run up and euphoria based on NFT’s (which is something I plan on positing about soon enough). These NFT’s were nothing more than fluff traded by n00bs that did not understand this market or the tech involved. With that said, I will argue that there are many institutional level normie investors that also don’t understand the tech involved. Nor do they take the time to research it.
We have to come back to the fundamentals and understand why Bitcoin was created, why it exists and what it implies, both from a monetary, political, societal and banking standpoint. The market needs to come back to its core. Decentralized crypto is here to solve problems. Bitcoin serves a purpose and Sovryn being a layer 2 financial operating system, is here to also solve a problem and serve a purpose.
We need to finally embrace the DEX. I have stated this before and I will state it again. Until we adopt the DEX, this market will forever be subject to corruption, manipulation, regulation and overreach by governments. Trading a decentralized asset on centralized exchanges defeats the purpose of the decentralized asset. Sovryn as a DEX gives us the look and feel of a CEX but is a fully decentralized exchange along with the other services discussed above. It can also be a launching place for new coins and projects if it so chooses to do so.
There are many people that state. In the gold rush, you wanted to be selling shovels. Not searching for gold. Sovryn is the shovel in the gold rush, Bitcoin being the gold. Bitcoin and crypto in general offers financial freedom but Sovryn offers the actual tools to manage your own bank.
Given the state of the global economy, governments turning more desperate/draconian/tyrannical and many of my past predictions coming to pass. Eventually rationality will need to come back to the market as play time comes to an end. Crypto gave us the ability to create the tools we need to walk away from living in a police surveillance state. Sovryn gives us the tools to manage our financial freedom and $SOV grants us ownership and say in the operations of the platform. Which is why you should consider owning some.Tags: Bitcoin, CEX, decentralized, DeFi, DEX, Sovryn
This post was written by BlockAdvisor